Athens News Agency: Daily News Bulletin in English, 06-04-04

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] National Bank purchases controlling stake of Turkey's FinansBank

[02] Coalition party official comments on buyout of Turkish bank by National Bank of Greece

[03] President Papoulias meets Egyptian counterpart Mubarak

[04] President Papoulias gives interview to Egyptian newspaper 'Al Ahram'

[05] Deputy finmin, Egyptian minister discuss bilateral economic ties

[06] Egyptian President meets Patriarchs Bartholomew, Theodoros

[07] Greek tourism school to reopen in Cairo

[08] FM Dora Bakoyannis visits Cyprus

[09] FM Bakoyannis says Annan plan for Cyprus 'does not exist any more'

[10] PASOK deputy Papoutsis on Greek-Turkish relations and the Cyprus issue

[11] Greek expatriates in U.S. ascertain 'new beginning' on Cyprus issue

[12] PM meets head of Personal Data Protection Authority

[13] Government on AGB charges, TV ratings legislation

[14] Greece supports the European prospects of the Balkans, Polydoras says

[15] Papandreou visits flood-stricken Amorio in Evros prefecture

[16] Deputy FM Valinakis addresses Scientific Conference on 'Greece in the EU'

[17] Education Minister Yiannakou comments on issue for building of mosque in Athens

[18] Inner Cabinet convenes on Tuesday to discuss Public Order Ministry issues

[19] SEECP meeting on Kosovo's future to be held in Athens

[20] PASOK delegation visits Skopje

[21] Prefect Psomiadis invites Albanian President Berisha to visit Thessaloniki

[22] DM Meimarakis visits Athens' military hospitals

[23] Labor unions and employers agree on national collective labor agreement

[24] Sioufas inaugurates Alexandroupoli-Komotini natural gas pipeline project

[25] Farm minister signs program contracts with four municipalities

[26] Titan acquires US concrete producers

[27] Athens Bourse Close: Marginal gains

[28] Earthquake jolts Zakynthos, seismologists reassuring

[29] ELA terrorist Aggeletos Kanas released on parole

[30] Archaeological excavations by Austrians in Greece

[31] Photography exhibition on Greek immigration in Sweden

[32] Soccer: Greek soccer results

[33] DG Enlargement Director General to visit Cyprus

[01] National Bank purchases controlling stake of Turkey's FinansBank

ATHENS, 4/4/2006 (ANA/MPA)

According to NBG Governor Takis Arapoglou, FinansBank is viewed as an "ideal strategic partner" for National Bank's expansion into the Turkish market, saying it retains a 5.2-percent market share in terms of loans, 208 bank branches in the neighboring country and 1.7 million active customers.

NBG sees new stake in Turkish bank as strategic landmark: The acquisition of a major stake in Finansbank, a leading mid-market bank in Turkey, by Athens-quoted National Bank of Greece is a landmark for the NBG Group, its chairman, Takis Arapoglou, said on Monday.

"For some time we have underlined the importance of further expansion by the NBG Group abroad, and specifically in southeastern Europe," Arapoglou noted in a statement.

"Our vision is the creation of a powerful and pioneering regional banking institution in the region. With our expansion in the Turkish market, we are taking our first major step to fulfill our vision," said.

Under the terms of the deal, Finansbank's founder, Husnu Ozyegin, will remain as chairman, also controlling about 10% of stock for at least two years. National is later due to obtain a controlling stake.

"This will ensure a smooth continuation of operations for the bank. It goes without saying that Finansbank will retain its name as it is a point of reference in the Turkish market," Arapoglou underlined.

He added that Finansbank was an ideal strategic ally for expansion in Turkey as it was a medium-sized company with one of the highest growth rates among banks in the neighboring country.

Commenting on the transaction, �zyegin described the sale as a historic moment for NBG as it took this step to become the leading international banking group in the Southeastern European region.

Key features of the purchase are as follows:

� NBG has agreed to acquire from FIBA Holding and its affiliates a 46.0% stake interest (437 million Tradeable Shares) in the Ordinary Shares of Finansbank and 100.0% (100 shares) of Founder Shares for USD 2,774 million (TRY 3,737 million, EUR 2,291 million) of which USD 451 million (TRY 607 million, EUR 372 million) is for Founder Shares and USD 2,323 million (TRY 3,129 million, EUR 1,918 million) for Ordinary Shares.

� NBG intends to launch a mandatory offer for the remaining Ordinary Shares held by the minority shareholders of Finansbank in the second half of 2006 following regulatory approval and its acquisition of the Founder Shares and 46.0% interest in the Ordinary Shares. If NBG acquires less

than a 4.01% additional stake (38 million Tradeable Shares) of the Ordinary Shares through the offer, FIBA Holding and its affiliates have agreed to sell to NBG sufficient Ordinary Shares to achieve 50.01% ownership position.

� NBG intends to launch a rights offering observing the pre-emption rights for existing shareholders to assist in the financing of the transaction. The rights offering will be for up to EUR 3.0 billion which may also be used in part to finance other acquisitions in the region. It is expected to be launched in June 2006.

� Subject to applicable regulatory approval and NBG shareholder approval for the rights offering, the overall transaction is expected to be finalized following completion of the mandatory tender offer to minority shareholders in Finansbank in the third quarter of 2006.

According to management, the coupling of NBG and Finansbank is strategically and financially attractive for NBG, which, since 2000, has steadily built up a strong presence in the region, through acquisitions and greenfield start-ups.

Its Southeastern Europe regional strategy aims at diversifying its operations and enlarging its footprint to cover a region with attractive economic prospects. The combination with Finansbank will create the leading banking group in the dynamic economies of southeastern Europe, with a presence in six countries in the region outside Greece: banking operations in Greece, Turkey, Albania, Bulgaria, F.Y.R.O.M, Romania and Serbia: and total assets of EUR 68.6 billion, customer loans of EUR 35.9 billion and customer deposits of EUR 47.2 billion as at 31 December 2005.

The Turkish banking sector is expected to be one of the most dynamic banking sectors in Europe benefiting from: a population of 70 million people; a 2005 nominal GDP of EUR 295 billion; a reformed and well regulated banking sector underpinned by strong macroeconomic reforms; and low banking sector penetration rates relative to Western European benchmarks, the statement said.

Finansbank's long term credit ratings are B1 by Moody's and BB- by Fitch. This compares to the long term credit ratings of A2 by Moody's, A- by Fitch and BBB+ by Standard & Poor's for NBG.

New outlook from S&P: Later in the day, Standard & Poors, the international ratings agency, said it had revised its outlook for National Bank of Greece to stable from positive as a result of the acquisition of Finansbank, Turkey's fifth largest credit institution.

Its long- and short-term debt ratings for National remained unchanged at BBB+ and A-2 respectively, S&P's said in a statement.

"Although NGB is strengthening its financial profile and continues to have an effective strategy, the acquisition of Finansbank, due to its size, has changed NBG's profile, introducing risks and challenges and making its profile potentially more changeable," the statement said.

Trading of National Bank's shares temporarily halted due to reported purchase of Turkish bank

The Athens Stock Exchange's (ASE) board of directors on Monday temporarily suspended trading of National Bank of Greece shares due to the possible purchase, by the latter, of the Turkish bank FinansBank, the eighth largest in the neighboring country.

According to a press release issued by ASE, National Bank's shares will again be traded once details of the purchase are announced.

Reports state that the deal was finalized on Sunday evening.

The decision is similar to a ban on the trading of FinansBank shares at the Istanbul bourse in the wake of press reports that majority control of the Turkish bank has passed into National Bank's control.

Trading of National Bank's shares temporarily halted due to reported purchase of Turkish bank

The Athens Stock Exchange's (ASE) board of directors on Monday temporarily suspended trading of National Bank of Greece shares due to the possible purchase, by the latter, of the Turkish bank FinansBank, the eighth largest in the neighboring country.

According to a press release issued by ASE, National Bank's shares will again be traded once details of the purchase are announced.

Reports state that the deal was finalized on Sunday evening.

The decision is similar to a ban on the trading of FinansBank shares at the Istanbul bourse in the wake of press reports that majority control of the Turkish bank has passed into National Bank's control.

[02] Coalition party official comments on buyout of Turkish bank by National Bank of Greece

ATHENS, 4/4/2006 (ANA/MPA)

"The expansion of Greek banks in third countries, particularly of the Balkans, as experience has shown to date, may increase the super profits of bank capital, but it has no positive repercussion on improving the living conditions of the Greek people," he said.

"The expansion of Greek banks abroad, as is confirmed by life itself, merely strengthens the role of bank capital, which has become 'a state within the state' in our country," he added.

Lafazanis further said that "among other things, serious questions are also raised as to whether and to what degree the buyout of the Turkish bank does not constitute yet another, indirect, step towards the complete privatization of the National Bank and its exclusive delivery to foreign profiteering capital."

[03] President Papoulias meets Egyptian counterpart Mubarak

CAIRO, 4/4/2006 (ANA/MPA)

The meeting between the two men greatly exceeded the scheduled time and they confirmed the excellent level of bilateral relations between Greece and Egypt, while discussing issues concerning the region and especially the Middle East crisis, where they noted a general coincidence of views.

Papoulias and Mubarak agreed that it was urgent to give a new impetus to the peace process and for all the parties involved to show self-restraint and avoid acts of violence.

They also discussed the situation in Iraq and Iran.

Regarding bilateral relations, the two presidents found that these were developing in a very satisfactory way following an official visit by Prime Minister Costas Karamanlis to Cairo roughly 18 months earlier, while economic relations had been significantly boosted.

Mubarak also referred at length to the contribution of Egypt's Greek communities in Cairo and Alexandria to building bilateral ties.

Papoulias presented his Egyptian counterpart with an invitation to carry out an official visit to Greece, which Mubarak accepted. He promised to visit Athens soon, while also expressing satisfaction at his upcoming visit by Cyprus President Tassos Papadopoulos in early May.

Following his meeting with Mubarak, Papoulias had a meeting with Ecumenical Patriarch Bartholomew, who visited Egypt for the dedication of a new cathedral, and Alexandria and All Africa Patriarch Theodoros.

Meetings with their Egyptian counterparts were also held by Greek Tourism Development Minister Fani Palli Petralia and Deputy Finance Minister Petros Doukas, who accompanied the president on his trip to Egypt.

[04] President Papoulias gives interview to Egyptian newspaper 'Al Ahram'

CAIRO, 4/4/2006 (ANA/MPA)

"Our positions coincide on regional and international issues. We appreciate the position of Egypt on the issue of Cyprus in particular, an issue of principles and international law", he said in the interview, while stressing that the Greek community in Egypt plays a very positive role as a bridge of friendship between the two peoples.

President Papoulias said Greece recognizes Egypt's special weight in the Arab world and its influence on regional developments and looks forward to closer cooperation on the Palestinian issue.

The Greek president also referred to development of relations in the economic sector, particularly on issues of mutual investments, trade and tourism, while also placing importance on the cultural sector.

President Papoulias revealed to the Egyptian newspaper that he intends to carry out a tour of the Gulf states soon and referred to his recent visit to Libya.

"I want, as President of the Hellenic Republic, that there should be no Arab country that I will not visit," he said.

[05] Deputy finmin, Egyptian minister discuss bilateral economic ties

CAIRO, 4/4/2006 (ANA/MPA)

Boutros-Ghali noted an increase in investments by Greek interests in Egypt and emphasized the prospects of similar investments by Egyptian businesses in Greece.

Doukas, on his part, promised that Greece will support Egyptian authorities by exchanging know-how on issues of taxation between the two countries, while the two ministers agreed on the need to complete a process for a bilateral customs cooperation agreement that will allow the customs services of Greece and Egypt to exchange information and tackle illegal immigration issues involving customs posts.

The two sides also expressed a desire for joint cooperation with the EU on tax issues, with Greece supporting Egypt by providing necessary know-how.

Boutros-Ghali and Doukas then noted the need to upgrade bilateral cooperation in the shipping sector and maritime transport security, while pointing out the joint desire of both countries to set up a new shipping line between Greece, Italy and Egypt, to the ports of Alexandria and Damietta.

Doukas also discussed the prospects of future investment activity by Greek ship owners, and said that their expertise could bring about a great improvement in the cruise tourism sector in the Red Sea and beyond.

[06] Egyptian President meets Patriarchs Bartholomew, Theodoros

CAIRO, 4/4/2006 (ANA/MPA)

Mubarak and Patriarch Bartholomew discussed the Ecumenical Patriarchate's initiatives for inter-religious dialogue and environmental protection, with the Patriarch informing the Egyptian head of state of a conference that will take place in Brasilia in the Amazon.

[07] Greek tourism school to reopen in Cairo

CAIRO, 4/4/2006 (ANA/MPA)

Meeting in the Egyptian capital were Tourism Minister Fani Palli-Petralia and her Egyptian counterpart, Zoher Gargana. The two officials agreed to set up a committee that will make recommendations on resolving the problems to re-opening.

According to the pact signed by the former tourism minister, Dimitris Avramopoulos, and his Egyptian counterpart, Mohamed Al Magrabi, in May 2005, the school, which had closed due to a cash shortage, would operate under the aegis of the two countries' governments.

In the past, the Melachrinio School produced mostly Greek graduates, who excelled professionally in hotels around the world.

Greece is to be the featured country at Cairo's Mediterranean Tourism Fair this year.

[08] FM Dora Bakoyannis visits Cyprus

ATHENS, 4/4/2006 (ANA/MPA)

During her visit, Bakoyannis will be meeting President Tassos Papadopoulos, who will also be giving a dinner in her honor, as well as her counterpart George Iakovou, Parliament Speaker Demetris Christofias and party leaders.

Bakoyannis will visit the ceasefire line in the old city of Nicosia, lay a wreath at the Makedonitissa Tomb and visit Nicosia Mayor Mihalakis Zambelas and the army camp of the Greek ELDYK army force.

Asked whether the foreign minister will meet Turkish Cypriot "foreign minister" Serdar Denktash, foreign ministry spokesman George Koumoutsakos said there was no such eventuality.

Referring to recent statements by Bakoyannis on the issue of Cyprus, Koumoutsakos said "the statements by Foreign Minister Dora Bakoyannis confirm steadfast Greek positions concerning the obligation of Turkey to meet the criteria and preconditions set by the European Union."

On the question of the Annan plan, the spokesman reiterated that "the negotiating basis for a solution to the Cyprus issue is the acquis communautaire, which can no loner be ignored, the decisions and resolutions of the UN", adding that the Annan plan "in the way it was submitted and set to the trial of referendums failed to lead to a solution."

Asked whether a new momentum exists on the Cyprus issue, Koumoutsakos referred to the joint communiqu� following the meeting between President Papadopoulos and the UN secretary general in Paris, late February.

"This document provides possibilities for the preparation of a process to go ahead which could ultimately lead to a solution. Having this in mind, we have spoken about a new momentum because, indeed, it is a basis that can be utilized by all those who have stated at times that they are interested in a solution, for a resumption of the effort," he said.

[09] FM Bakoyannis says Annan plan for Cyprus 'does not exist any more'

NICOSIA, 4/4/2006 (ANA/MPA)

Bakoyannis was speaking to the Cyprus Broadcasting Corporation (CyBC) one day ahead of her visit to the island republic.

The Greek Cypriots rejected with an overwhelming majority the Annan plan while the Turkish Cypriot community voted for it in separate referenda in April 2004.

Bakoyannis also underlined that Turkey must abide by her obligations undertaken towards the European Union and implement the Protocol for the extension of the customs union to cover also the Republic of Cyprus. She said that this should be regarded as a given fact and referred to EU Enlargement Commissioner Olli Rehn's repeated statements on the issue, to statements by the EU presidency and various foreign ministers.

Bakoyannis arrives in Cyprus on Tuesday.

PM Karamanlis confers with FM Bakoyannis ahead of her Cyprus visit

Prime Minister Costas Karamanlis conferred Monday morning with foreign minister Dora Bakoyannis, ahead of her visit to Cyprus, which begins Tuesday.

The foreign minister told reporters after the meeting that the target was to further intensify cooperation between the two governments "in view of the various developments, and the new momentum that has been created" surrounding the Cyprus issue.

Bakoyannis stressed that the cooperation between Athens and Nicosia was very close, adding that this would be her first visit to Cyprus in her new capacity as foreign minister.

[10] PASOK deputy Papoutsis on Greek-Turkish relations and the Cyprus issue

ATHENS, 4/4/2006 (ANA/MPA)

Referring to the Cyprus issue, Papoutsis said that "a redefining must be made and be examined in its real dimension, that is, as an international issue of illegal Turkish military occupation of the northern part of the Republic of Cyprus, a member-country of the European Union, and thus, a solution to the Cyprus issue should be sought within the framework of the decisions of the United Nations, on the basis, of course, of the European Union's Treaty and the acquis communautaire."

[11] Greek expatriates in U.S. ascertain 'new beginning' on Cyprus issue

WASHINGTON, 4/4/2006 (ANA/MPA/T. Ellis)

Speaking on behalf of the expatriates who attended the meeting, the President of the International Coordinating Committee of the Cypriot Struggle (PSEKA), Philip Christopher, termed it as the "best, most substantive and most open we have ever had with American officials" and attributed the climate of understanding that existed to Burns' knowledge of the region.

He added that what was also conducive was the fact that Greek-American relations are at their best point ever at the moment, as well as the recent successful visit to Washington by Greek Foreign Minister Dora Bakoyannis.

Christopher said that "we presented our positions and the American side its own" and pointed out that the position of the U.S. is the creation of a bizonal, bicommunal, federal state, which will be a member of the EU, and which could, if it desired, even join NATO and whose citizens will have one nationality.

[12] PM meets head of Personal Data Protection Authority

ATHENS, 4/4/2006 (ANA/MPA)

In statements to reporters afterwards, Gourgourakis said that matters related to phone-tapping fell under the remit of the Authority for the Protection of Communications Privacy.

Papaligouras said that Gourgourakis had submitted a memorandum to the premier, which would be taken into account by committee processing new communications privacy legislation, along with those of the other independent authorities.

[13] Government on AGB charges, TV ratings legislation

ATHENS, 4/4/2006 (ANA/MPA)

Commenting in the wake of a scandal involving Greece's sole TV ratings firm AGB, which now faces charges for fraud and accusations that it 'fixed' ratings without taking proper measurements, Roussopoulos said that this would require cooperation between the state and all those involved.

He also ruled out unilateral imposition of measures by the state, saying that these could not have the desired result, and that the government proposed the foundation of a non-profit company that will be made up of organizations representing the advertising sector, market research and opinion poll firms.

Roussopoulos said that the present legal framework only allowed the government to register research firms in a list and that there was no framework of control as that existing for newspaper and magazine circulation.

To other questions, he said that if AGB were struck from the government register it would no longer be able to undertake government contracts. Concerning AGB's role after the foundation of the non-profit company proposed by the government, he said that in all issues of measurements or ethics in journalism, the government was in favor of self-regulation.

"The role of the state is to monitor and thus the purpose of the proposed company will be to monitor, while the measurements will be carried out by any company," Roussopoulos said.

[14] Greece supports the European prospects of the Balkans, Polydoras says

SOFIA, 4/4/2006 (ANA/MPA)

In his letter, Polydoras thanked Bulgaria's interior minister for the "constructive and friendly spirit during the recent international meeting at the big port of Bulgaria, Varna," within the framework of which ministers Polydoras and Petkov exchanged ideas, opinions and proposals for the "solution of significant problems of the two countries and of the broader region," as stated in an announcement issued on Monday by the Bulgarian ministry's press office.

[15] Papandreou visits flood-stricken Amorio in Evros prefecture

4/4/2006 (ANA/MPA)

Addressing the inhabitants of Amorio, which suffered devastation from the recent floods in Evros prefecture in northern Greece, Papandreou expressed his support and reiterated that he would support the Five Year Reconstruction Program for the Evros region.

He said it is "a program which must not only see the phenomenon of the floods, but must also see the restoration of the economy and again give a future to the region."

[16] Deputy FM Valinakis addresses Scientific Conference on 'Greece in the EU'

ATHENS, 4/4/2006 (ANA/MPA)

The conference is being held within the framework of events marking the 25th anniversary of Greece's accession to the European Union and of the "Plan D" of the European Commission for Democracy, Dialogue and Communication with the Citizens.

In his address, the deputy foreign minister said:"For Greece, the coming enlargement is not just any enlargement. It is a historic bet. In essence, it exclusively concerns our neighborhood. Therefore, we have every reason for us to be the steam-engine of its 'Europeanization'."

Valinakis added:"Nothing is done automatically. What is needed is a systematic effort by the countries of the region and full implementation of the criteria and preconditions which the European Union sets. The special characteristics of the candidate member states marked for the European Union the necessity, to the already existing criteria of Copenhagen to also add preconditions of foreign behavior, which must be strictly adhered to, so as to put on track the necessary changes in the internal and foreign behavior of these countries and to render possible their entry into the European Union."

"We Greeks recognize today that the European Union constitutes the basis on which security, economic development, the progress of our country are built...Greece is, with an open spirit, in the heart of the debate that has begun on a European level for the future of the unifying enterprise. Greece has positions and opinions for the basic question which is: what Europe do we aim at, in what Europe do we want to live. We want Europe to be the most dynamic and most competitive free economy in the world. We want a Europe of new jobs and employment opportunities. A Europe of social cohesion and solidarity. But above all we want the Europe of citizens," Valinakis added.

[17] Education Minister Yiannakou comments on issue for building of mosque in Athens

ATHENS, 4/4/2006 (ANA/MPA)

Minister Giannakou stressed in particular that "a great number, thousands of people, who live in Votanikos, have come from Thrace." She further noted:"It is something that the government is seeking, not due to external pressures, but because it constitutes our obligation, despite the fact that no request has been made so far by Muslim communities. The issue is being examined in general."

To a question where the dialogue stands at present regarding this matter with Archbishop of Athens and All Greece Christodoulos, Giannakou replied:"This is a matter of the State. The State asks the opinion of the archbishop and I must tell you that the archbishop never raised such an issue, at least to the education ministry."

[18] Inner Cabinet convenes on Tuesday to discuss Public Order Ministry issues

ATHENS, 4/4/2006 (ANA/MPA)

Earlier in the morning, Premier Karamanlis will meet with New Democracy (ND) Central Committee Secretary Lefteris Zagoritis and at 8 p.m. he will speak at the dinner of the "Economist" Conference on the theme:"Revealing the new priorities in a world of changes".

[19] SEECP meeting on Kosovo's future to be held in Athens

ATHENS, 4/4/2006 (ANA/MPA)

Greek foreign ministry spokesman George Koumoutsakos on Monday told reporters that the meeting will be held between senior officials and diplomats, which would be sent by the Contact Group for Kosovo (Britain, France, Germany, Italy, Russia and the United States), the countries in the SEECP and international organizations such as the United Nations, NATO, the EU and the OSCE.

Koumoutsakos pointed out that Greece had shown an active interest in developments in Kosovo during tours carried out in the region by both current foreign minister Dora Bakoyannis and her predecessor Petros Molyviatis.

The spokesman said the meeting will be an opportunity for SEECP countries to exchange views on the situation in Kosovo and present their ideas for a viable solution, as well as ways in which the countries in the region might contribute to finding such a solution.

He said that the meeting will be launched with a speech by Deputy Foreign Minister Yiannis Valinakis.

[20] PASOK delegation visits Skopje

A delegation from the main opposition Panhellenic Socialist Movement (PASOK) headed by the party's head of the International Relations Secretariat, Paulina Lampsa, on Monday visited Skopje where they met with Former Yugoslav Republic of Macedonia (FYROM) Prime Minister and President of the Socialdemocratic Union (SDSM) Vlado Buckovski, Acting President of the Government Radmila Sekerinska and SDSM Secretary General Nikola Kurkciev.

Discussion at the meetings centered on cooperation between PASOK and the SDSM and the current state of political affairs in FYROM, with emphasis on the parliamentary elections, which, most probably will take place early July.

SDSM invited PASOK leader and Socialist International (SI) President Papandreou to visit Skopje late April, at the events which SDSM will hold to mark the 15th anniversary since its foundation.

SDSM is a member of Socialist International.

[21] Prefect Psomiadis invites Albanian President Berisha to visit Thessaloniki

ATHENS, 4/4/2006 (ANA/MPA)

They discussed Greece-Albania relations, the integration of Albanians in Greek society and the activity of Greek entrepreneurs in the neighboring country.

Prefect Psomiadis told reporters:" We agreed with the Ambassador to cooperate against bad elements, who have created serious problems in Greek society, while I proposed that in the immediate future and in cooperation with the Albanian Consulate, to organize a concert with Albanian artists in Thessaloniki."

[22] DM Meimarakis visits Athens' military hospitals

ATHENS, 4/4/2006 (ANA/MPA)

He expressed the "government's determination to improve the living conditions of the personnel of the Armed Forces, by dealing with problems concerning their medical care."

Meimarakis was accompanied by Deputy National Defense Ministers Vassilis Michaloliakos and Yiannis Lambropoulos.

[23] Labor unions and employers agree on national collective labor agreement

ATHENS, 4/4/2006 (ANA/MPA)

According to the new agreement, salaries and wages will increase by 2.9 percent as of January 1, 2006, and by a further 2.9 percent as of September 1, 2006, while a 5.1 percent increase will be given as of May 1, 2007.

As a result of this two-year agreement, minimum salaries will increase from 591 euros today to 658 euros and minimum wages will increase from the current 26.4 euros to 29.4 euros.

General Confederation of Workers of Greece (GSEE) President Christos Polyzogopoulos said the agreement was "an honorable compromise" adding that the outcome constitutes "an honorable and dignified agreement but which is not, of course, one worth celebrating."

Polyzogopoulos spoke of extremely difficult negotiating under conditions which "were rendered unfavorable by the government's income policy, as well as the other interventions, such as in banks, which questioned the climate of collective negotiating prevailing in the country".

"Under the circumstances, we achieved the best possible result. The agreement gives the income of working people the loss sustained from inflation and a part of the increase in productivity," he said.

Federation of Greek Industries (SEB) President Odysseas Kyriakopoulos said it was a compromise that does not satisfy any side. He said industry is bound by an effort to cover the burden of increases agreed on Monday through investments and an increase in productivity.

The SEB president termed Monday's increases "the biggest in the 15-nation European Union". He also spoke of a "message of optimism for the future where, through a tough effort, both the convergence of salaries and the continuation of the competitiveness of industry will be secured."

Political parties comment: Political parties commented on the new two-year collective labor agreement reached between labor unions and employers on Monday, with the main opposition PASOK party hailing the agreement and the Communist Party of Greece (KKE) and the Coalition of the Left, Movements and Ecology (Synaspismos) party criticizing it.

PASOK economy sector chief Vasso Papandreou said "PASOK hails today's agreement between the social partners which constitutes a lesson for the arrogance of the finance and economy minister, who rushed to announce increases below inflation for the public sector through a fax."

A press release by KKE said the agreement provided "shameful increases and is a provocation," stressing that basic wages received a "gross increase of 77 cents and basic salaries a gross increase of 17 euros during the first half of 2006."

KKE said that the leadership of the General Confederation of Workers of Greece (GSEE) "did not negotiate with the criterion of the modern-day needs and just causes of workers for substantive increases but with the target of 'labor peace', meaning class 'cooperation' so as not to harm the profits of industrialists and so that obstacles are not posed for the new anti-labor options and arrangements that will follow."

It added that the question posed for the government of the New Democracy party and the main opposition PASOK party "is how a worker and his family can manage to live with these pseudo increases, while the high cost of living is rampant."

Panayiotis Lafazanis, a member of the Coalition party's Political Bureau, said that "at a time when the super profits of capital are literally galloping and the productivity of labor is experiencing a considerable increase, the two-year increases stipulated between the employers and GSEE on minimum salaries and wages constitute a mockery for the hundreds of thousands of low-salary earners of our country, whose remuneration is at degrading levels and who are already facing a survival problem."

He further said that "these meager increases, which they are continuing to distribute in an even more unequal fashion the national income for the benefit of capital, will be dissolved over the next two years by the wave of the high cost of living in commodities of popular consumption which is sweeping the market and which is not reflected in the official price index, which means that the position of the low-salary sectors of Greek society will become even worse."

[24] Sioufas inaugurates Alexandroupoli-Komotini natural gas pipeline project

4/4/2006 (ANA/MPA)

The natural gas pipeline project connecting the Turkish and Greek grids was inaugurated last July during a high-profile ceremony attended by the two countries' prime ministers.

Sioufas, speaking during a brief ceremony at the Komotini industrial district, said that the ongoing project, in tandem with a natural gas pipeline connecting Greece and Italy, will link the Caspian Sea fields with western and central Europe.

[25] Farm minister signs program contracts with four municipalities

ATHENS, 4/4/2006 (ANA/MPA)

The object of the program contracts is the study and construction of public forestry and technical projects, forest recreation activities, management, reforestation and the promotion and protection of the natural environment in public forests and forest land.

Their purpose is the protection and development of the specific regions to enable them to become poles of attraction or economic activity for the inhabitants of cities and the countryside.

[26] Titan acquires US concrete producers

ATHENS, 4/4/2006 (ANA/MPA)

The two companies, which operate in the Tampa and Ft. Myers areas in Florida, own five ready-mix plants.

"This new acquisition enables Titan to expand its efforts to serve Florida's growing need for building materials," the company said in a statement.

Titan America LLC is a cement and building materials producers in the eastern United States, headquartered in Norfolk, Va.

Titan is an independent cement and building materials producer based in Greece that owns and operates 11 cement plants in six countries.

In 2005 the Group sold over 15 m. tons of cement and cement materials, over 5 m. m3 of ready mixed concrete, 20 m. tons of aggregates and other building materials including concrete blocks and dry mortars etc.

[27] Athens Bourse Close: Marginal gains

ATHENS, 4/4/2006 (ANA/MPA)

The FTSE/ASE-20 index for high capitalization shares ended 0.15% up; the FTSE/ASE-40 for medium cap stocks closed 1.32% higher; and the FTSE/ASE-80 for small cap shares finished 1.31% up.

Of stocks traded, advances led declines by 168 to 98 with 47 remaining unchanged.

The stocks with the highest turnover were Alpha Bank, Eurobank, OPAP, Hellenic Exchanges, and OTE.

Derivatives Market Close: OTE top in stock futures trade

Stock Futures: